Press release
Increasing hydrogen gas applications across as oil & gas, refinery, and chemical are anticipated to positively influence industry growth
Global hydrogen generator industry has also been categorized on process basis (Steam Reformer, Electrolysis, Others). Steam reformer was largest process accounting at over 70% of global share in 2015. Whereas, rising electrolysis process in small scale hydrogen generator is likely drive industry growth.
Hydrogen generator market is further segregated on application basis as chemical processing, petroleum recovery, fuel cells, refinery, and others. Fuel cell market accounted over 15% of global share in 2015. Increasing fuel cells demand in residential and transport owing to its low emission characteristics is likely to complement industry growth.
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Rising demand for low emission fuel coupled with increasing need to minimize fossil fuel dependency is forecast to boost hydrogen generators over the forecast timeframe. In addition, low cost availability of abundant natural gas is forecast to be key growth driving factor. Also, increasing hydrogen use across food & beverage to eliminate viruses and bacteria may further compliment growth. However, transportation cost and risk synced with hydrogen coupled with deficient storage infrastructure may hamper industry growth.
Key insights from the report include:
Onsite generators are set to see more than 5% growth from 2016 to 2024. High hydrogen transportation cost and risk pertaining to it may positively impact for onsite generators demand.
Electrolysis process is forecast to reach USD 225 million by 2024. Chemical processing was valued at over USD 480 million in 2015. Increasing chemical processing activities where hydrogen is used as feedstock is forecast to drive hydrogen generator market size.
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U.S. hydrogen generator market size accounted more than 25% of global share in 2015. Growing fuel cells electric vehicles (FCEV) industry in the region has increasing demand for hydrogen fueling stations will stimulate demand.
Browse key industry insights spread across 85 pages with 106 market data tables & 9 figures & charts from the report, “Hydrogen Generator Market Size By Product Type (Onsite Generators, Portable), By Process Type (Steam Reformer, Electrolysis, Others), By Capacity (2,000 Nm3/h) By Application (Chemical Processing, Petroleum Recovery, Fuel Cells, Refinery, Others), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Sweden, China, Japan, India, South Korea, Brazil) Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/hydrogen-generator-market
Asia Pacific, led by China, Japan, India, and South Korea, market is estimated to witness gains at over 6% CAGR up to 2024. Stringent low emission norms coupled with rapid industrialization in the region is anticipated to drive hydrogen generator demand in the region.
Global hydrogen generator market share is fairly consolidated. Major industry players include Hydrogenics Corporation, Linde A.G, and Air Products & Chemicals Inc. Other significant market share contributors are Air Liquide SA, Idroenergy, Praxair Inc., McPhy Energy, Airgas Inc., and ParkarBalston.
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